Brik by Brik Launches “Next Generation” Property Investment
Previously, transacting assets such as property exclusively through digital channels has not been the norm. UK-based property development company Brik by Brik has announced the launch of Brikn, its DAO ecosystem on the blockchain that rewards holders of the token from the revenue the company generates from its vast property portfolio. The company is targeting a property portfolio of £50 million within the next five years.
Brik by Brik Director Mark Goodman said: “Investing in real estate has for a long time been one the world’s favourite tools to achieve financial freedom. Now, with blockchain technology, we’re making cryptocurrency real estate investments easier and more accessible to everyone. Imagine being able to have fractional ownership of multiple income-generating properties from an investment as low as $1000. This is next generation property investment powered through blockchain.”
Crypto real estate investing is the process of tokenizing real-world properties and offering them as fractional property-backed crypto investments to investors. With Brikn, a real estate property is purchased through fiat via the sale of the token and investment received, and the token represents a percentage of the property portfolio. Tokens are linked to the properties through the use of smart contracts that execute rent payments and distribution to investors of tokens automatically through the BRIKN Vault staking platform.
By allowing fractional ownership, blockchain lowers the barriers to investing in real estate. The traditional real estate investment process presents a number of hurdles to potential investors. For example, in order to purchase a rental property, a prospective investor will often require a mortgage – in effect, eating into the property’s bottom line. The investor must also take care of managing tenants, the upkeep of the property, paying taxes on the property and ensuring compliance with the law. Real estate has long been viewed as an illiquid asset because it takes time for purchases to conclude. This is not the case with tokens, which can be bought and sold in a matter of seconds. And unlike real estate investment trusts (REITS), the advantages of tokenization through the BRIKN ecosystem include the ability to invest in multiple properties (by fractionalising returns on the entire property portfolio) rather than into a fund, more frequent payouts and a low minimum investment.
Headquartered in the UK, Brik by Brik aims to be a leading national multi-sector property developer with a main focus on Below Market Value properties that deliver high rental yields. Working
closely with its partners, ranging from investment houses to architects, Brik by Brik delivers exceptional quality development and investment projects across residential and commercial property sectors throughout the UK for both private and public sector customers, diversifying risk for investors and token holders.
Founder and Head of UK Operations Mark Goodman has been a leading figure in new build housing construction and residential renovation in the North West for the past two decades, and he has overseen property development projects of up to £500 million in value. His extensive network includes partnerships with a number of leading developers such as Taylor Wimpey, Kier, Barratts, Redrow, Bellway, Charles Church and Keepmoat.
For more information about the Brikn platform please visit www.brikn.io
ICO Page: icolistingonline.com/ico/brikn/